IMPLEMENTATION LEVEL
NationalAFFECTED FLOW
InflowANNOUNCED AS TEMPORARY
YesNON-TRADE-RELATED RATIONALE
NoELIGIBLE FIRMS
allJUMBO
NoTARIFF PEAK
NoOn April 28, 2015, the Chilean Ministry of Public Finance passed the Exempt Decree 121 to establish new applicable discounts on customs duties on sugar for a one-month period starting on May 1, 2015. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 20.78 per tonne of raw sugar; USD 112.15 per tonne in refined sugars qualified as Grade 1 or 2; and USD 57.32 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 47.99, USD 124.33 and USD 78.52 per tonne respectively.
The objective of this decree is to establish a relative margin for internal prices to fluctuate in comparison to the international market.
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